What are the Historical Developments and Current Growth Metrics of the IT Operations Analytics Market?
The it operations analytics market has seen considerable growth due to a variety of factors.
• Recently, there has been an explosive expansion in the IT operations analytics market size. This growth is anticipated to take the market from $19.09 billion in 2024, to an estimated $24.7 billion by 2025, realizing a compound annual growth rate (CAGR) of 29.4%.
This surge during the historic duration is linked to the escalating complexity in IT environments, swelling data volumes, a transition towards anticipatory IT management, amplified emphasis on user experience, and the demand for instantaneous visibility.
What is the Forecasted Market Size and CAGR for the IT Operations Analytics Market?
The it operations analytics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of IT operations analytics is anticipated to increase slightly in the coming years, reaching a value of $25.76 billion in 2029 with a 1.1% compound annual growth rate (CAGR). This predicted expansion in the forecast period can be linked to the use of hybrid and multi-cloud environments, enhanced incorporation of artificial intelligence (AI) and machine learning (ML), emphasis on AI for IT operations (aiops), escalating cybersecurity issues, and the ongoing increase in IT complexity. Notable trends for the forecast period encompass remote work and distributed IT operations, digital transformation efforts, integration of visibility solutions, adoption of hybrid and multi-cloud tracking, and the sustained growth of edge computing monitoring.
What Key Factors and Trends Are Driving The Growth IT Operations Analytics Market?
The anticipated rise in data centers is predicted to boost the IT operations analytics market. These data centers, which are buildings, rooms, or facilities specifically constructed to accommodate IT infrastructure, deploy and operate applications and services, as well as store data. The analytics provided by IT operations offer a real-time, cloud-based platform to oversee and optimize the data center's infrastructure. As an example, the Campfil Group, an air filter company based in the US, reported that the US had 2,751 data centers in January 2022. Additionally, Germany had 484, the UK had 458, China had 447, and Canada had 324. Consequently, this rise in data centers is the catalyst behind the growth of the IT operations analytics market.
IT Operations Analytics Market Driver: Growth Accelerated By Increased Adoption Of Cloud Computing
What Are The Market Segments In The IT Operations Analytics Market?
The IT operations analytics market covered in this report is segmented –
1) By Type: Predictive Analytics, Visual Analytics, Root Cause Analytics, Behavior Analytics,
2) By Deployment, On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small And Medium Organizations
4) By Application: Asset Performance Management, Network Management, Security Management, Log Management
5) By End Use: Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, Manufacturing, Government, IT And Telecom, Other End Users
Subsegments:
1) By Predictive Analytics: Failure Prediction, Capacity Planning, Performance Forecasting
2) By Visual Analytics: Data Visualization Dashboards, Real-Time Monitoring Visuals, Anomaly Detection Visuals
3) By Root Cause Analytics: Incident Analysis, Automated Root Cause Detection, Log Analysis for Troubleshooting
4) By Behavior Analytics: User Behavior Analytics, System Behavior Tracking, Threat Detection
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How Are Emerging Trends Reshaping The Dynamics Of The IT Operations Analytics Market?
Leading firms in the IT operations analytics market are leveraging artificial intelligence (AI) and machine learning (ML) for operations analytics. They are adopting AI-based automated remediation solutions to broaden their global market presence. Such solutions utilize AI capabilities to detect, scrutinize, and correct incidents or issues in IT surroundings. For example, in April 2023, the US-based digital operations management company, PagerDuty Inc., introduced the PagerDuty AIOps solution. This service provides comprehensive automation, ranging from event ingestion to automated remediation, facilitating quick handling of large data volumes and event resolutions. By employing machine learning and exceptional AI capacities, PagerDuty AIOps enriches its base data model. This, in turn, aids in streamlining operations, further automating incident management, and prevents costly problems from arising. A striking component of PagerDuty AIOps is its visibility console - a centralized monitoring dashboard provided to operational teams, enabling prompt incident management to prevent major business, IT, and financial repercussions.
Who Are the Key Players In The IT Operations Analytics Market?
Major companies operating in the it operations analytics market report are:
• Microsoft Corporation
• Hitachi Ltd.
• International Business Machines Corporation
• Cisco Systems Inc.
• Oracle Corporation
• Broadcom Inc.
• SAP SE
• VMware Inc.
• NetApp Inc.
• SAS Institute Inc.
• Micro Focus International PLC
• Splunk Inc.
• BMC Inc.
• Elastic N.V.
• iOPEX Technologies
• SolarWinds Inc.
• Appnomic Systems Pvt. Ltd.
• Sumo Logic Inc.
• Devo Inc.
• Nexthink SA
• Digitate
• ExtraHop Networks Inc.
• Moogsoft Inc.
• Optanix Inc.
• OpsRamp Inc.
• Nastel Technologies Inc.
• XpoLog Ltd.
• StackState Inc.
• Loom Systems Ltd.
• Evolven Software Inc.
What Are The Regional Insights Into The IT Operations Analytics Market?
North America was the largest region in the IT operations analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the it operations analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
